Caprock Group LLC Purchases New Position in GoDaddy Inc. $GDDY

Caprock Group LLC acquired a new stake in GoDaddy Inc. (NYSE:GDDY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,947 shares of the technology company’s stock, valued at approximately $1,179,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. ING Groep NV lifted its stake in shares of GoDaddy by 17.6% in the 3rd quarter. ING Groep NV now owns 188,198 shares of the technology company’s stock valued at $25,751,000 after acquiring an additional 28,149 shares during the last quarter. Krilogy Financial LLC bought a new position in GoDaddy in the third quarter valued at about $403,000. Applied Finance Capital Management LLC boosted its stake in shares of GoDaddy by 10.8% during the third quarter. Applied Finance Capital Management LLC now owns 3,584 shares of the technology company’s stock valued at $490,000 after purchasing an additional 348 shares in the last quarter. Versor Investments LP bought a new stake in shares of GoDaddy during the third quarter worth about $1,326,000. Finally, Wealthfront Advisers LLC increased its stake in shares of GoDaddy by 60.2% in the third quarter. Wealthfront Advisers LLC now owns 25,566 shares of the technology company’s stock valued at $3,498,000 after buying an additional 9,612 shares during the period. Institutional investors own 90.28% of the company’s stock.

Insider Activity

In related news, CEO Amanpal Singh Bhutani sold 6,932 shares of GoDaddy stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $127.94, for a total transaction of $886,880.08. Following the transaction, the chief executive officer owned 399,133 shares of the company’s stock, valued at $51,065,076.02. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Mccaffrey sold 3,317 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $127.94, for a total value of $424,376.98. Following the completion of the sale, the chief financial officer directly owned 66,816 shares of the company’s stock, valued at $8,548,439.04. The trade was a 4.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,615 shares of company stock worth $1,743,102 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

GoDaddy Stock Performance

GDDY opened at $89.04 on Friday. GoDaddy Inc. has a 1-year low of $88.11 and a 1-year high of $195.70. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 0.81 and a beta of 0.94. The company’s fifty day moving average price is $112.40 and its two-hundred day moving average price is $129.17. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 41.06.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of GoDaddy in a report on Friday, October 31st. UBS Group reduced their price objective on shares of GoDaddy from $160.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Jefferies Financial Group decreased their price objective on GoDaddy from $150.00 to $140.00 and set a “hold” rating for the company in a report on Monday, January 5th. Cantor Fitzgerald cut their target price on GoDaddy from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, Benchmark reissued a “buy” rating on shares of GoDaddy in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.21.

GoDaddy Profile

GoDaddy is a technology company that provides a suite of online services aimed primarily at small businesses, entrepreneurs and individuals looking to establish and grow an online presence. The company’s core activities include domain name registration and aftermarket services, a range of website hosting options, and tools for building, managing and promoting websites. Its product mix is designed to simplify the technical aspects of running a website so customers can focus on their businesses.

Product and service offerings span website builders and managed WordPress hosting, shared and dedicated hosting, e-commerce capabilities, email and productivity solutions, SSL certificates and site security tools, and online marketing and search engine optimization services.